Let’s assume soon the liquidators get to the point that you mentioned ($8M divide by $53M). The immediate next query from them to all would be what’s the loss have you suffered? It should have been greater than 12 cents per unit.

Friends, I summarized below of the PDF document the AB Data team shared with me (help@abdataclassaction.com) - “The Individual Defendants Plan of Allocation” that describes the Court-Approved plan of allocation understanding your payment in a greater detail.

This PDF narrates the plan of allocation of the funds $11.95m after deducting the court-approved attorney fees and expenses.

The summary covers Aegean Common Stocks alone and it discusses the formula to arrive at the Recognized Loss Amount (RLA)

1) You should have purchased Aegean Common Stocks between 02/27/2014 and 11/5/2018 (both dates inclusive) and should have suffered a loss, meaning your purchase price should be in excess of $0.12 per share

2) If you sold your shares prior to 12/14/2016, the RLA is $0

3) If you sold between 12/14/2016 and 6/11/2018, the RLA will be lesser of the two i) the purchase price multiplied by the corresponding inflation rate (see table1) less sale price multiplied by the inflation rate at the time of sale or ii) the purchase price minus the sale price

4) If you sold between 11/7/2018 and 2/4/2019, the RLA will be the least of i) the purchase price multiplied by the corresponding inflation rate in Table 1 or ii) the purchase price minus the sale price; or iii) the purchase price minus the average closing price between 11/7/2018 and the date of sale given in the Table 2

5) You held as of the close of 2/4/2019 or sold thereafter, the RLA will be the lesser of i) purchase price multiplied by the corresponding inflation rate at the time of purchase (see Table 1) or ii) the difference between the purchase price and $0.04 per share

6) Per the court approved plans of allocation, if the market loss of a claim is negative (less than 0), the RLA of that claim will be changed to 0

7) All shares held as of the closing of the Class Period are ascribed a value of $0.12. Please note, the difference between the purchase price and $0.12 should not be a negative value, meaning your purchase price should be greater than $0.12. If the purchase price is less than $0.12, the difference will be a negative value and therefore RLA will be 0 for your claim

I hope this summary helps. This summary is prepared after reading through 14 pages of the PDF “The Individual Defendants Plan of Allocation”

There is only one way we will see something good happening for us at some point is by collectively coming forward and engaging an attorney (share the expenses) to object and stop any motion going forward that is intended to further extend the termination date of the litigation trust (18-13374).

Unfortunately the recent motion was considered by the US Bankruptcy Court Southern District of NY to extend the termination date to April 3, 2026 as there was no objection from anyone

LITIGATION TRUST’S MOTION TO EXTEND THE TERMINATION DATE OF THE LITIGATION TRUST
The litigation trust (the “Litigation Trust”) established pursuant to the Joint Plan of Reorganization of Aegean Marine Petroleum Network Inc. and Its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code, dated March 22, 2019 [ECF No. 503-1] (the “Plan”),2 hereby files this motion (the “Motion”) seeking entry of an order, substantially in the form attached hereto as Exhibit B (the “Proposed Order”), extending the termination date (the “Termination Date”) of the Litigation Trust for two years from April 3, 2024 through and including April 3, 2026.

The termination date is extended until April 3, 2026 due to no objection

Do we know when the liquidators will complete processing of our claims and credit the proceeds to our brokerage account?

Aegean Securities investors,

Please make sure you have filed your claim before the upcoming hearing on 10/19/2023. You can file your claim online at Aegeansecuritieslitigation.com without fail. Once there click on Submit Your Claim Online link on the left and the claim form will open. Fill out the details, Add your purchase, submit the proof and then hit submit at the end. You will see “Thank you for submitting your claim for the Aegean Securities Litigation” and will show you your claim number

18-13400 Aegean Management Services M.C. is one of the 75 Debtors that was closed on 6/27.

What that means is there are 73 Affiliates and 1 lead debtor Aegean Marine Petroleum Network Inc. are yet to close.

Main case docket 18-13374 (18-13375 to 18-13447)

These alerts and more to come are as a result of released the order to extend the deadline “ORDERED, that the claim objection deadline be and hereby is extended through and including July 14 2023” - this can be found in Doc 804 6/6/3023.

In other words, July 14 2023 is the deadline for raising objections to the claims will end and I would imagine they will take at least one month or two to awarding their final decisions to those claims. No more claims can be entertained, so that would be the end. After that if any amount is left they will pay out to shareholders after the liquidation agency has secured their fees.

There is no need for you to close out the position on your brokerage account. It can remain open, there is no real reason to close it out before time. You will get a settlement against that position one day. No one can say for sure as to when, but it will certainly happen. I am very hopeful.

If you close out the position prematurely, it may convey to your brokerage firm that you are opting out of any future disbursements that may come through them.

Yes, that’s the one

If You Purchased Aegean Marine Petroleum Network, Inc. Securities During The Period Beginning February 27, 2014 Through November 5, 2018, Your Rights May Be Impacted And You May Be Entitled To Payment From Two Class Action Settlements Totaling $29.8 Million.

This is what we are seeing in the court approved notice. But, I certainly encourage you to raise your questions by calling 1-877-888-9760 (Toll Free) OR VISIT www.aegeansecuritieslitigation.com

Those who haven’t yet received the court approved notice for Two Class Action Settlements totaling $29.8M, please email to the lead counsel Nicole Lavallee, 425, California Street, Suite 2300, San Francisco CA 94104 Telephone 415-4333200 or email law@bermantabacco.com

Please fill out the claim form along with the statement of account that you can download from your brokerage firm and have them submitted to the Claims Administrator or the representing lawyer’s office (information given in the bundle you received in mail). Please make sure you mail them out postmarked no later than October 22 2022.

When you pull statement of account from your brokerage firm, you will know the total cost, the quantity, and the date of purchase to help you decide that.

If you had sold off the entire position after the cutoff, the statement of account will pull nothing, so you get nothing.

All, Go to your broker account where you had purchased ANW shares earlier. It should show Y00ESC015, the total cost and the quantity you had purchased on your broker account. Download a statement of account and send it along with the paperwork you are required to mail them out.

I received by mail. No email

Did anyone receive Notice of Pendency of class action and proposed partial settlements and final approval hearing for the partial settlements, plan for allocation, motion for approval of Attorney’s fees and reimbursement of Litigation expenses and application for the establishment of litigation expenses fund?

Further it says, if you purchased Aegean Marine Petroleum securities during the period beginning Feb 27 2014 and Nov 5 2018, your rights may be impacted and you may be entitled to payment from two class action settlements totaling $29.8 Million.

(A federal court authorized this notice. This is not a solicitation from a lawyer)

Why not we join hands together and engage a liquidation consultant who could guide us as to what could be the potential outcome of all these events that are currently happening and where do we stand with our position being LTGBU class B? If and when there a possibility of getting something at the end or we are just assuming something that’s not real.

That sounds realistic $0.63 per share paid out no later than November-2022.

Let’s wait patiently. I don’t believe Aegean can write Class B off fully. I understand, a big chunk of the remaining balance of $1B will go to Class A, B should get a part of that for sure. The battle is still on.

This information I saw in news back in 2018. Mercuria Energy signed MoU to complete $1 B in refinancing. I remember reading this back then. I see total cash disbursements according to docket 774 filed on 4/13/2022 states the total payment as on 3/31/2022 was $923,729,371

Also, there is yet another piece of information I would like to share. Please read the docket number 760, scroll down to ‘Schedule 1’ LTG Profit & Loss account. You will find under the title “Income”, there is a line item “Payments from Third Parties” $4.5M !!

This is the only quarter where they reported an Income out of 11 quarters (April 2019 to Dec-2021) we have had so far.

I read somewhere that Mercuria had agreed to fund $1B to Aegean as part of reorg to allow Aegean Debtors to settle their Creditors through LTGB trust, is my understanding correct?

If that’s true, I would imagine that there is a balance available amount of $76M as they have disbursed 923 M so far.

The quarterly report filed under document number 774 for 3/31/2022 reports the summary of Post Confirmation Transfers in the quarter was $439,689 by way of cash disbursements.

The previous quarterly report for 12/31/2021 also reported cash disbursement of $338,242.

The running total of total cash disbursed as on 3/31/2022 is $923,289,682 paid by Mercuria to Aegean Marine Petroleum.

I think these cash disbursements are made to meet the quarterly expenses. Net Income for the quarter 12/31/2021 was $ -258,649. Cash disbursed for that quarter was $338,242.

Similarly, the cash disbursed in the latest quarter 3/31/2022 is $439,689. Let’s see what Income Expenses statement shows for the quarter when it is filed around 15th May 2022.

What I am seeing is that on the effective date I.e 4/3/2019, a sim of $40m was funded by Mercuria as “loan” to Litigation Trust to create Aegean Unsecured Claims Cash Pool. The amount remained in this pool as of 12/31/2021 is at $14.3M after having paid out Allowed Aegean Unsecured Claims prior to the effective date or after.

Of this $14.3M, a Dispute Claims Reserve is at $4.18M for the benefit of holders of Aegean Unsecured Claims that were not allowed as of the effective date. However, the Negative retaining earning as of 12/31/2021 of $1.744 should be offset and additionally the LT Funding Fee payables of $3M should also be offset against this reserve. That would take the reserve down to negative of $0.564M which means none of the remaining Aegean Unsecured Claims would get anything at all. In fact, the LT funding fee liability as a result will take a hit to the extent of the negative 0.564M as of 12/31/2021 or whatever that sum be when the fee gets settled.

Therefore, the funds available for a potential disbursement to LTGBU holders technically is at $11.85M after settling the Accounts payables of $17629. However, please note Mercuria had given a loan of $40m on the effective date and let’s hope in all practicality that the remaining $11.85M will not be taken back by Mercuria.

Do anyone know exactly the number of outstanding shares (leave out the number of shares that belonged to all those who have been accused of having committed a fraud). $11.85M should be divided among that number of outstanding shares as the potential payout for each share.

This is going by the numbers on the quarterly report alone and not taking any sum that LTGBU may get if and when the cases against the defendants are finally won by LTGBU owners.

Happy Thanksgiving to you all! We are all together here. I am quite confident that good news will be out pretty soon ??

Awesome, that would be great. I like any number upward of 30 cents.

Happy thanksgiving to you all!

At this point, do we know if there is still any claim remaining unsettled yet prior to us assuming that $14.5 m on the books available for us? Thanks

Thanks for your reply. Based on what you said, our only hope is expect to see residual interests in the litigation claims once general unsecured creditors have received payment in full.

That’s the number we are getting close to, perhaps 6/30/22.

Assuming the common stocks of 58.19M shares appear on Minerva Bunkering’s (100% subsidiary of Mercuria Energy Group - a privately held company) books as $0 post acquisition, wouldn’t the value of the stocks increase as they begin to generate profits?

Litigation trust still working on settling the creditors claims which I believe is likely to complete by 6/30/2022 (please correct me if I am wrong). I also agree that common stocks have nothing to do with what Litigation Trust doing, however its completion has dependency on common stocks. At the end of their completion and after their exit, will we be able to see what’s the value of common stocks on Minerva’s books? Is it $1 per share or what? How will they get rid of us and when? Could anyone comment here?

A litigation trust is a trust created for the benefit of creditors of a debtor to prosecute and distribute the proceeds of certain causes of action belonging to the debtor that are transferred to the litigation trust as part of the bankruptcy plan

So, you are right. It’s a wait and watch game

Looks like general unsecured claims fully paid out, right? Is there any other claim that Aegean need to settle? Are we (GTBU) next in the queue for them to settle? Or Utah Retirement System has higher priority over us? I hope we still have a chance.

I placed a thumps up emoji, but it got replaced with 2 question marks. Totally missed the positive response

I think that’s very reasonable to expect ??
That should happen. You are very thoughtful with your analysis

Hopefully something will happen on the 16th. If not, let’s wait as usual.

Those 3 claims of Diamond S Management LLC aggregated to $1.11M. Although, the amount of these claims is small, you rightly analyzed that this is a good start.

We should hear more of such news in days to come to confirm things have started moving in the right direction and the settlement will be out soon.

I think $3 per share is a reasonable expectation. Let’s see how it goes

Is there a way for us to predict a payout date? And if possible what would that payout be based on the remaining cash in the books as on date divided by the outstanding LGB shares and then we extrapolate that number with the probability of what we think Mercuria would consider paying out? If the remaining cash is no longer an important factor for this purpose, we could ignore that.

Thanks a lot for your response and your guidance. Take care!

When I count my money, I will surely remember you ??